Shared Ownership

This brand new home is available to buy from as little as £237,500 with a 50% share!

The historic town of Bishop’s Stortford is nestled on the banks of the River Stort in rural Hertfordshire. It’s situated just west of the M11 motorway, on the county boundary with Essex, and just over 30 miles north of central London. It’s also the closest large town to London Stansted Airport and has a direct train to London Liverpool Street, reaching the city in less than 40 minutes.

Living at Stortford Fields means that you’ll have everything you need close to home. The town’s attractive high street is filled with 16th and 17th century buildings which sit alongside the newer Jackson Square Shopping Centre. Fresh from a £5.5 million facelift, Jackson Square is brimming with high street names and coffee shops. Your entertainment is covered too as there’s a cinema, health club, bowling alley and the Rhodes Arts Complex - a large live music and contemporary arts venue and museum.

This brand new detached home features a fabulous kitchen/diner at the back of the house with a separate utility room, a ground floor cloakroom and a separate lounge. To the first floor are three bedrooms (en suite to bedroom one) and a family bathroom. Externally is off road parking and a garden.

PRICING & AFFORDABILITY

Full Market Value: £475,000

50% Share Price: £237,500 (rent £544.27pcm)
60% Share Price: £285,000 (rent £435.42pcm)
75% Share Price: £356,250 (rent £272.14pcm)

Minimum 5% Mortgage Deposit (50% share): £11,875
Approximate Service Charges: £18.68 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Stortford Fields shares start from 50% of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Service Charge: 224.16